Blackstone and Warburg explore sale of IntraFi valued at over $10 billion

✦ Meridian Analysis

Blackstone and Warburg Pincus are in the early stages of exploring a sale of IntraFi, a U.S.‑based financial‑technology platform that runs the country’s largest reciprocal deposit network. The private‑equity owners have appointed Morgan Stanley and Guggenheim Securities to advise IntraFi on the sale process. IntraFi, which was acquired by Blackstone in 2019 and received a Warburg Pincus investment in 2022, generates $630 million in annual EBITDA, according to the sources. Deal professionals will be watching for the valuation multiple applied to IntraFi’s EBITDA, the composition of any buyer consortium and the financing package that may accompany the sale. Neither the price nor the expected closing timetable has been disclosed, and the identities of any potential bidders or the final advisory team beyond Morgan Stanley and Guggenheim remain unknown.

The Meridian Weekly